I hope your week is off to a wonderful start. Between the shifting winds in Washington and the global headlines, I know there is a lot of noise out there. Here’s my take on the latest news in the housing and mortgage market so you can make informed decisions for your family and your future.
What’s Happening with Rates?
We’ve hit a bit of a bumpy patch. Following the recent Fed meeting and Chair Powell’s signals that he isn’t going anywhere just yet, the markets reacted with some nerves. This uncertainty, combined with “sticky” inflation data (thanks to rising costs for things like eggs and fuel) and elevated oil prices due to overseas conflicts, has pushed mortgage rates to their highest levels so far in 2026.
While we saw a brief dip below the 6 percent mark earlier this year, rates have trended upward over the last week. However, there is a silver lining: even with this recent “tick up,” we are still seeing rates nearly half a percentage point lower than they were at this time last year.
A Shift in Power: The “Year of the Turtle”
The most interesting news isn’t just about rates—it’s about the shift in control. We are currently seeing the largest gap between sellers and buyers on record, with sellers outnumbering buyers by a staggering 46 percent.
Economists are calling this ‘25-’26 winter the “Year of the Turtle” because things are moving slowly—it’s taking about 66 days on average to sell a home—but the “race” is shifting in favor of the buyer. For the first time in years, the negotiating power is moving back to you.
A Surprising Trend in New Construction
If you’ve been frustrated by the prices of existing homes, here’s a tip: look at new builds. Historically, new homes cost more, but right now, builders are getting aggressive. Many are offering incentives and smaller, more affordable floor plans, making new construction median prices actually lower than existing homes in many cases. Before you explore new construction options, be sure to reach out to me so I can help you evaluate financing and minimize your overall loan costs.
The Bottom Line
The market is rebalancing. Yes, borrowing costs are higher than they were last month, but the increase in inventory means you finally have the space to breathe, shop around, and negotiate.
If you’re wondering how these trends affect your specific neighborhood or your next move, I’m always here for a chat.
